Private Equity (PE) firm Fire Capital has planned to invest about $100 million (rupees 450 Crore) during this fiscal. Fire Capital is a New Delhi based key PE player. According to Chief Executive Om Chaudhry , the company in the 1st half invested in two projects and in the remaining time of this fiscal the company has plans to invest about rupees 450 Crore. Though he did not mention the amount invested in those two projects. The real estate focused PE fund has tied up with investors to invest the amount.
The company was established in the year 2004 which raised its 1st fund of about 121 million dollars during 2006. It had an option to invest 250 million dollars with the help of co-investment commitments. The fund was invested in real estate projects in tier-II & III cities with a direct equity exposure in these residential projects.
As of now, Fire Capital has taken up projects in cities like Nagpur, Indore, and projects on the outskirts of Bangalore city. They have also taken an exit from 2 projects partially from Bangalore & Indore. The company is also exiting from another project very soon. They raise money from non resident Indians based in US but presently they are not in a requirement of further money.
“Bell the bull says: Most of the Real estate companies are looking at Private Equity players for investment because bank interest rates have increased and its funds have also dried up.”